A QUICK GUIDE FOR EVERYTHING WAGE SUBSIDIES RELATED – HOW IT HELPS BUSINESSES AND EMPLOYEES

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Employment is not an easy task for businesses, especially during a pandemic like COVID-19, which has left many unemployed people, especially people who belong to the category of disability or health condition. They are in dire need of jobs, and businesses can certainly employ these talented individuals using wage subsidies.

What exactly is Wage Subsidies?

Most people might not be aware of wage subsidies as this is something that can surely help not only the business but also individuals seeking a job. A wage subsidy can be considered to be funds given by the Government of Australia to these small businesses looking to hire candidates who are eligible for the task but find it a little difficult to do so. 

These subsidies are a blessing in disguise for both parties as the amount received by the government after a thorough check is very generous and only post all the verification they consider for the program. 

How wage subsidies benefit both business and employees:

  • One main question that can arise in business owners’ minds is how it will help them? Will it even add any value to their cause if they get enrolled for this? The simple answer to these questions is yes, and it will certainly benefit the business and these subsidies, which can range anywhere from $1600 to $10000. This money will help hire individuals with a disability or a health condition, even individuals who have had injuries. 

One critical way this helps a business is by allowing the company to slim down on the costs applicable for hiring employees. This opens doors to worry less about the capital costs and instead hires talented and readily available individuals with a lesser chance of risks involved.

  • Businesses that have an Australian phone number provide enough information for a role that should continue for a minimum period of 6 months, and this role holds to that of a minimum wage employee and meets those standards, are eligible for the scheme. It is also important to note that the business should not be affiliated with any government official or agency either at the state or national level to avoid a conflict of interest.

Apart from this, they should also be working a minimum work hour per the type selected under the subsidy.

  • This scheme is for disabled individuals or ones who have health conditions and the elder demographic in Australia. Individuals who are over 50 years of age can also be considered for the subsidies by the company.
  • There are many websites of service providers affiliated with the Australian government that allow individuals to find work and, at the same time, businesses to find employees, all including the wage subsidy. This is greatly beneficial as both the business and the potential employee are benefitted from the wage subsidy without putting much effort into it. 

A great Service provider for job seekers and hirers will ensure constant support to the person applying for the job and the business so that the process of hiring goes without many hiccups and gets a pool of talented individuals in need of employment. It is a win-win situation for every party involved!

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